Kiting involves inter-bank transfers.

Name: Kiting involves inter-bank transfers.
Brand: Quizplus
Rating: 4.9 (30 reviews)

Question

Quizplus · Accepted Answer

Kiting is a fraudulent practice of making use of the time needed for a check to clear to generate additional funds. It involves writing a check from one account and depositing it into another, overstating the account's balance, and then withdrawing the funds before the check clears in the first account. This process involves inter-bank transfers to move funds between accounts. Hence, the statement is true.

Kiting Involves Inter-Bank Transfers